Deutsche analyst, said, "While we continue to see modest improvement in MOCVD market in 2013, we believe shares are now likely discounting this recovery given the 83% YTD share price increase vs 12% of S&P. Coupled with the fact that most of the share price increase has been due to multiple expansion vs. positive estimate revisions and also considering the prospect that Q3/Q4 bookings recovery expected by MOCVD tool makers may get pushed out by 1-2 quarters, we believe the set-up is less favorable for a positive trade through the year-end."

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